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2020-10-22

Nyfosa AB: Interim report January - September 2020

JANUARY - SEPTEMBER 2020

  • Income, MSEK 1,477 (987)
  • Profit after tax, MSEK 1,728 (838)
  • Profit after tax per share, 9.55 SEK (5.00)

JULY - SEPTEMBER 2020

  • Income, MSEK 554 (331)
  • Profit after tax, MSEK 819 (369)
  • Profit after tax per share, 4.44 SEK (2.20)

SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER

  • In July, Nyfosa took possession of the property portfolio comprising a large share of tax-funded tenants that was acquired in the second quarter for a value of SEK 4.9 billion.
  • In July, properties were divested for a value of SEK 1.0 billion.
  • In August, Stina Lindh Hök was appointed the CEO to Nyfosa AB to succeed Jens Engwall on October 26, who will become an advisor to the company.
  • In September, a letter of intent was signed to acquire 90 percent of a property portfolio for a value of SEK 1.1 billion.
  • In September, a logistics portfolio was divested for a value of SEK 2.1 billion.

COMMENTS FROM THE CEO
Nyfosa took another step in its growth in the third quarter by taking possession of properties for approximately SEK 4.6 billion and a significant increase in cash flow per share - our primary growth metric. By making strategic divestments, we are also paving the way for new acquisitions with a focus on strong, stable cash flows.
We can conclude that Nyfosa has so far coped well with the challenges caused by the pandemic, as has the vast majority of our tenants. With properties throughout Sweden and outside the major city centers, we are also not experiencing any noticeable decline in demand for our office premises. Access to financing has recovered well and we are maintaining a high level of activity with many transactions in the pipeline.
This is my final report as Nyfosa's CEO. I am proud and pleased of how Nyfosa has evolved in less than two years; a stable and growing company that holds its very own and cutting-edge position in the Swedish property market. Nyfosa has strong management and a passionate team that knows how to do good business and develop properties both sustainably and profitably. I feel assured with Stina Lindh Hök at the helm. I am delighted that I will be able to continue to contribute as support to management, as a Board member and shareholder. Nyfosa has only just started on its journey, and it will be exciting to follow what comes next. Hold on tight!
 

Jens Engwall, CEO

Författare Nyfosa AB

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